1. PAFR Popular Annual Financial Report

2. Do not need to be an accountant to understand!
What is a PAFR?
Presents condensed financial data in easily understandable manner
Unaudited and presented on non-GAAP basis
Information derived from CAFR
Designed for the general public
Purpose
To encourage and assist state and local governments to extract information from their comprehensive annual financial report to produce high quality popular annual financial reports
Specifically designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance
Program participants benefit from access to technical material specifically designed to help them comply with program requirements.
Participants in the program profit from a thorough confidential review of their PAFR. (Transparency)
Recognize individual governments that are successful in achieving that goal. The Popular Annual Financial Reporting Awards Program allows the public finance profession a welcome opportunity to recognize those governments that have succeeded in preparing a high quality popular annual financial report.
Do not need to be an accountant to understand!

3. Promotes the preparation of high quality financial reports
Background
Popular
Annual
Financial
Report
The GFOA established the Popular Annual Financial Report (PAFR) program in 1991
Why is it called “Popular”? Definition: Suitable to common people; easy to comprehend
Promotes the preparation of high quality financial reports
Participants include state and local governments of various types and sizes

4. Reasons for Issuing a PAFR
Educate our community on your financial position
Report on annual bond, capital and override expenditures
Showcase accomplishments
Summarize most requested information

5. Award Opportunity
Popular Annual Financial Reporting Awards Program encourages local government to prepare and issue a high quality PAFR.
Must have received GFOA’s Certificate of Achievement for Excellence in Financial Reporting for the prior year’s CAFR
Or receive it in the current year, if not received in the prior year
Submit your prepared PAFR to GFOA for consideration
Reviewed by peers across the country
GFOA website has list recent award winners:

6. For more information: Karin M. Smith, MBA (602) 277-9449 x327